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Romney ad says Obama out of time on the economy

“Three years ago Barack Obama told the country that he is responsible for the economy,” text from the ad reads, before cutting to Obama saying, “I welcome the job, I want the responsibility, give it to me.”

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“So where are we now?” the ad continues. “More than 23.2 million Americans out of work, underemployed or no longer looking for work, 40 straight months over 8 percent unemployment, middle-class struggles have deepened, and median household income has dropped by more than $4,000.

“Now he tells us, ‘Of course the economy isn’t where it needs to be,’ but he still wants four more years to fix the problem.”

The ad then cuts to Mitt Romney.

“Well, Mr. President, you’ve had your moment; we’ve seen the results. And now, Mr. President, this is our time.”

The Obama campaign has played defense on the economy this month on the heels of a weak May jobs report. The president has responded by arguing that the economy is moving in the right direction, pointing to gains in the private sector, but arguing that uncertainty over Europe’s debt crisis, weak public-sector employment and a still brittle housing market need more time to be addressed. 

Obama's problems were compounded after Republicans piled on him for saying the private sector was doing “just fine.” While the administration quickly clarified the remark, the Romney campaign has made it a central component of its attacks, attempting to paint the president as out of touch with voters.

In a major economic speech in Cleveland on Thursday, Obama said it was always going to take time for the U.S. economy to recover after the financial crisis of 2008.

“This was not your normal recession,” he said. “Throughout history, it has typically taken countries up to 10 years to recover from financial crises of this magnitude. Today, the economies of many European countries still aren’t growing.”

But Obama’s calls for patience on the economy are running up against a worried electorate. 

According to the latest Hill Poll, a majority of voters think the country could be slipping into a double-dip recession. 

The survey found 75 percent of people were either very or somewhat worried the country is headed toward another recession.